US Department of Labor issues guidance clarifying Trump Accounts are not generally employee pension benefits plans

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WASHINGTON – The U.S. Department of Labor today issued guidance clarifying that employer contributions made to a minor child’s Trump Account will not generally be subject to Title I of the Employee Retirement Income Security Act. A Technical Release from the department’s Employee Benefits Security Administration provides clear guidance regarding the treatment of Trump Accounts given their unique status as an individual retirement account that may be funded by contributions from employers, governments, charitable organizations, and family members.“This guidance should provide the clarity that employers need as the Administration rolls out Trump Accounts to jumpstart a golden age of investing in future generations,” said

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